Bankrupt SemGroup Resolves Partnership Spats

Law360, New York (March 10, 2009, 12:00 AM EDT) -- Bankrupt oil company SemGroup LP reached a deal with SemGroup Energy Partners LP that resolves disputes over oil assets and several operational agreements, according to regulatory filings and court documents.

Tulsa, Okla.-based SemGroup LP and 24 related entities are reorganizing in the U.S. Bankruptcy Court for the District of Delaware.

According to papers filed Friday in support of the settlement, which still requires court approval, the debtors entered into four complex transactions with the partnership prior to the Chapter 11 filing in July.

"These transactions culminated...
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